§ 1301.16. Periods of limitation
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 1, 2002
Effective: July 1, 2002
72 P.S. § 1301.16
§ 1301.16. Periods of limitation
Except as hereinbelow set forth, the expiration of any period of time specified by statute or court order, during which an action may be commenced or maintained, or could have been commenced or maintained, by the owner against the holder of the property, shall not prevent such property from being subject to the custody and control of the Commonwealth under this article, nor affect the duty to file a report or to pay or deliver the property to the State Treasurer, as required by this article, nor bar any action by the State Treasurer under this article, provided that:
1. If any holder required to file a report under any act in effect prior to the effective date of this article, or under this article, has filed or files a report, no action shall be commenced or maintained against such holder unless it has been or is commenced within fifteen (15) years after such report has been or is filed.
2. If any holder was not required to file a report under any act in effect prior to the effective date hereof, no action shall be commenced or maintained unless it has been or is commenced within fifteen (15) years after the property first became escheatable or payable into the State Treasury without escheat.
Credits
1929, April 9, P.L. 343, No. 176, art. XIII.1, § 1301.16, added 1982, Dec. 9, P.L. 1057, No. 248, § 5, retroactive effective Jan. 1, 1982. Amended 2002, June 29, P.L. 614, No. 91, § 12, effective July 1, 2002.
72 P.S. § 1301.16, PA ST 72 P.S. § 1301.16
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
| End of Document |